American Banker | Friday, March 4, 2011
WASHINGTON — Federal regulators issued a tough opening salvo in settlement talks with the largest servicers, presenting them with a 27-page term sheet that would force major changes to the industry and step up loan mitigation efforts.
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I read that Freddie Mac and Fannie Mae are forbidden by federal law to offer principal reductions in a loan mod, so how does this settlement help the homeowners whose loans are owned by the GSE’s? Is this just supposed to pacify us?
The Servicers are NOT The Party of Interest. They didn’t LEND the MONEY.
The pretender/lenders are NOT the of Party of Interest. They didn’t LEND the MONEY.
Wer need Jac Costue(Pink Panther) on the Case.